Charles Schwab Investment Management Inc. Acquires 7,121 Shares of Raymond James (NYSE:RJF)

Charles Schwab Investment Management Inc. raised its stake in Raymond James (NYSE:RJF) by 0.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,064,349 shares of the financial services provider’s stock after acquiring an additional 7,121 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Raymond James were worth $130,340,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of RJF. Metis Global Partners LLC raised its stake in Raymond James by 1.4% during the 3rd quarter. Metis Global Partners LLC now owns 6,115 shares of the financial services provider’s stock worth $749,000 after buying an additional 82 shares during the period. Wedmont Private Capital increased its holdings in Raymond James by 5.1% during the 3rd quarter. Wedmont Private Capital now owns 1,769 shares of the financial services provider’s stock worth $222,000 after purchasing an additional 86 shares in the last quarter. Portside Wealth Group LLC raised its stake in shares of Raymond James by 3.9% in the 3rd quarter. Portside Wealth Group LLC now owns 2,495 shares of the financial services provider’s stock valued at $306,000 after purchasing an additional 93 shares during the period. Gilliland Jeter Wealth Management LLC lifted its holdings in shares of Raymond James by 1.6% in the second quarter. Gilliland Jeter Wealth Management LLC now owns 6,237 shares of the financial services provider’s stock valued at $771,000 after purchasing an additional 96 shares in the last quarter. Finally, MFA Wealth Advisors LLC boosted its position in shares of Raymond James by 2.7% during the third quarter. MFA Wealth Advisors LLC now owns 4,051 shares of the financial services provider’s stock worth $496,000 after buying an additional 105 shares during the period. 83.83% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on RJF shares. Wells Fargo & Company upped their price target on Raymond James from $140.00 to $152.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. The Goldman Sachs Group boosted their target price on Raymond James from $125.00 to $142.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. Morgan Stanley lifted their target price on Raymond James from $132.00 to $145.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. JMP Securities boosted their price target on Raymond James from $146.00 to $150.00 and gave the company a “market outperform” rating in a research note on Thursday, October 24th. Finally, Bank of America upped their target price on Raymond James from $136.00 to $152.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $140.91.

Raymond James Stock Up 1.2 %

Raymond James stock opened at $167.23 on Tuesday. The firm has a 50 day moving average price of $140.85 and a two-hundred day moving average price of $126.19. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.99 and a current ratio of 1.02. Raymond James has a 52-week low of $102.42 and a 52-week high of $167.40. The firm has a market cap of $34.44 billion, a price-to-earnings ratio of 17.22, a PEG ratio of 0.96 and a beta of 0.99.

Raymond James (NYSE:RJF) last issued its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 EPS for the quarter, beating analysts’ consensus estimates of $2.41 by $0.54. Raymond James had a net margin of 13.86% and a return on equity of 19.61%. The business had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.32 billion. During the same quarter in the prior year, the firm posted $2.13 earnings per share. The business’s quarterly revenue was up 13.4% compared to the same quarter last year. Equities analysts predict that Raymond James will post 10.83 EPS for the current year.

About Raymond James

Raymond James Financial, Inc, a financial holding company, through its subsidiaries, engages in the underwriting, distribution, trading, and brokerage of equity and debt securities, and the sale of mutual funds and other investment products in the United States, Canada, Europe, and internationally. The company operates through Private Client Group, Capital Markets, Asset Management, RJ Bank, and Other segments.